How to Buy a Foreclosed Home: The Ultimate Step-by-Step Guide
Redfin
MARCH 4, 2025
If the auction accepts financing, make sure you have a pre-approval ready. If possible, consult a real estate attorney to be sure you understand the realities of the auction and the transaction rules. Bank-owned properties Bank-owned properties, often called real estate-owned (REO) properties, are owned by the lender.
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